FMRC recommends board adopt FY26 operating budget, FY26 capital budget and FY26–30 capital investment plan

The Finance and Risk Management Committee on June 12 recommended that the Board adopt San Diego Community Power’s FY2025–26 operating budget, FY2025–26 capital budget and the FY2026–2030 capital investment plan (CIP).

CEO Karen Burns and CFO Dr. Eric Washington led a multi‑department presentation outlining five guiding principles for the budget — fiscal responsibility, organizational stability, stable competitive rates, programs and incentives, and transparency — and reviewed proposed investments across finance, power services, operations, regulatory and legislative affairs, programs, and public affairs. Department directors described specific investments such as hiring two positions in finance (including a middle‑office risk role), adding portfolio and modeling analysts in power services, launching the San Diego Regional Energy Network programs, expanding the solar+battery program into a full program, deploying a distributed energy resource management system (DERMS), and investing in enhanced customer outreach and an enterprise data platform.

Tim Mangumont, director of finance, explained that operating numbers remained unchanged from the prior board packet but that capital and the CIP were updated to reflect continuing fund balances and multi‑year carryover. Staff said the reserve policy contemplates distributing excess reserves among programs, CIP contributions and a stabilization reserve once targets are met; current days‑cash and net position metrics were discussed. Committee members asked clarifying questions about externally funded positions and CIP appropriations.

The committee recommended board adoption of Resolution 2025‑06 to adopt the FY25–26 operating budget, FY25–26 capital budget and the FY26–30 capital investment plan.